RIL's net profit falls 15% to Rs 9,567 cr in Q2 on weak oil business

The profit in Q2 was lower sequentially as well as the April-June earning of Rs 13,248 crore included one-time gain of Rs 7,629 crore from sale of 49 per cent stake in petro retailing business to BP

Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 15 per cent drop in second quarter net profit after the pandemic-hit oil demand dragged down continued good showing in consumer-facing businesses such as telecom.

Consolidated net profit attributable to owners at Rs 9,567 crore in July-September compared with Rs 11,262 crore a year back, Reliance said in a stock exchange filing.

A plunge in fuel demand after the raging pandemic forced people to stay home and stifled the economy dealt a body blow to the firm's traditional cash cow oil refining and petrochemicals, even as consumer-facing businesses, which account for 35